Nga has completed the legislation to open the cryptocurrency market to ineligible traders

Russia is moving closer to opening its cryptocurrency market to unqualified investors through a new bill, according to TASS. Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, stated that the draft law has been completed and will be reviewed during the spring parliamentary session.

According to the plan, cryptocurrencies will be removed from the special financial regulation mechanism, making their use more widespread. However, individual investors who are not eligible will face restrictions on market access. Specifically, they will only be allowed to purchase up to 300,000 rubles (approximately 3,800 USD) worth of cryptocurrency, while organizations and professional investors will not be subject to this limit.

The bill is also expected to promote the use of cryptocurrencies in cross-border payments and the issuance of Russian tokens on the international market. Previously, the Central Bank of Russia and the Ministry of Finance both supported a controlled opening, along with risk-limiting measures to protect the financial system.